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Statement of comprehensive income

For the year ended 30 June 2012
Actual 2010/11
$000
 Notes Actual 2011/12
$000 
Main Estimates 2011/12
$000 
Supplementary Estimates 2011/12
$000 
  Income         
 32,865 Revenue Crown  2 30,371  32,254  30,954
 18,773 Revenue from fees   3  17,758  19,284  20,258
 834 Other revenue   4  750  600  793
 52,472 Total operating income     48,879  52,138  52,005
  Expenditure        
 21,168 Contractual payments to Crown entities   5  19,849  21,375  22,349
 18,211 Personnel expenses   6  17,465  17,829  18,035
 12,002 Other operating expenses   7  10,447  11,762  10,614
 234 Capital charge   8  249  250  250
 504 Depreciation of property, plant and equipment   11  500  522  504
 332 Amortisation of intangible assets  12  302  400  253
 21 Finance cost  15  67  -  -
 52,472 Total expenditure     48,879  52,138  52,005
 - Net surplus/(deficit)     -  -  -
 - Gain on revaluation of Milford Aerodrome   11  -  -  -
 - Total comprehensive income     -  -  -

Explanations of significant variances against budget are detailed in note 22.

Statement of movements in equity

for the year ended 30 June 2012
Actual 2010/11
$000 
 Actual 2011/12
$000 
Main Estimates
2011/12
$000 
Supplementary
Estimates
2011/12
$000 
3,116 Balance at 1 July  3,116  3,116  3,116
 - Total comprehensive income  -  -  -
 - Capital withdrawal  -  -  -
 3,116 Balance at 30 June  3,116  3,116  3,116

Statement of financial position

As at 30 June 2012
Actual
2010/11
$000 
 Notes Actual
2011/12
$000 
Main Estimates
2011/12
$000 
Supplementary
Estimates
2011/12
$000 
  Equity         
 2,355 Taxpayers funds     2,355  2,355  2,355
 761 Revaluation reserve - aerodrome    761  761  761
 3,116 Total equity  3,116 3,116 3,116
  Represented by:        
  Current assets        
 3,117 Cash and cash equivalents     4,227  2,456  3,661
 2,289 Debtors, prepayments and other receivables  10  2,742  1,953  788
 5,406 Total current assets    6,969  4,409  4,449
  Non-current assets        
 3,326 Property, plant and equipment  11  2,872  3,151  2,875
 555 Intangible assets  12  382 563  523
 62 Work in progress  
3,853  Total non-current assets    3,254  3,714  3,398
 9,259 Total assets    10,223  8,123  7,847
  Current liabilities        
 3,347 Creditors and other payables   13  3,999  2,585  2,183
 1,518 Employee entitlements 14  1,498  1,139  1,211
 4,865 Total current liabilities    5,497  3,724  3,394
  Non-current liabilities         
 685 Employee entitlements   14  950  711  724
 593 Provision for lease make-good  15  660  572  613
 1,278 Total non-current liabilities    1,610  1,283  1,337
 6,143 Total liabilities    7,107  5,007  4,731
 3,116 Net assets     3,116 3,116  3,116

Statement of cash flows

for the year ended 30 June 2012
Actual
2010/11
$000 
 Notes Actual
2011/12
$000 
Main Estimates
2011/12
$000 
Supplementary
Estimates
2011/12
$000 
  Cash flows from operating activities        
 33,133 Crown    30,371  33,194  34,368
 19,610 Fees     17,201  18,344  18,344
 392 Departments   413  400  408
 194 Crown entities    103  -  136
 338 Other    309  200  249
 (17,986) Personnel costs    (17,238)  (17,740)  (17,946)
 (12,995) Operating expenses    (9,478)  (11,762)  (12,024)
 (20,470) Contractual payments to Crown entities    (19,849)  (21,464)  (22,438)
 (76) Net GST paid    (264)  -  -
 (234) Capital charge    (249)  (250)  (250)
 1,636 Net cash flows from operating activities 16  1,319  922  847
  Cash flows from investing activities        
 (353) Purchase of property, plant and equipment    (142)  (470)  (144)
 (321) Purchase of intangible assets    (67)  (280)  (159)
 (674) Net cash flows from investing activities    (209)  (750)  (303)
  Cash flows from financing activities        
- Capital withdrawal by the Crown 9 - - -
 - Net cash flows from financing activities   - - -
 962 Net increase in cash held    1,110  172 544
 2,155 Cash at 1 July    3,117  2,284  3,117
 3,117 Total cash at 30 June    4,227  2,456  3,661

The net GST paid component of operating activities reflects the net GST paid to and received from the Inland Revenue Department. This component has been presented on a net basis, as the gross amounts do not provide meaningful information for financial statement purposes and to be consistent with the presentation basis of the other primary financial statements.

Statement of commitments

as at 30 June 2012

Non-cancellable operating lease commitments

The Ministry leases property in the normal course of business. The majority of these leases are for premises, which have non-cancellable leasing periods ranging from 1 to 6 years. The Ministry also outsources its IT support.

Actual
2010/11
$000
 Actual
2011/12
$000 
  Non-cancellable operating lease commitments  
2,124  Not later than 1 year  2,366 
6,308  Later than 1 year and not later than 5 years  6,608 
2,384  Later than 5 years  954 
10,816  Total non-cancellable lease commitments  9,928 

The Ministry's non-cancellable operating leases have varying terms, escalation clauses and renewal rights. There are no restrictions placed on the Ministry by any of its leasing arrangements. Some accommodation leases are cancellable, subject to penalty. The amount disclosed is based on the current rental rates. Total operating lease cost is expensed on a straight-line basis over the life of the lease.

The reduction in commitments is mainly due to the property leases being one year closer to expiry. However, the Ministry has also renewed its contract with its supplier of IT support services for two years, expiring in January 2014.

Capital commitments

There were no capital commitments as at 30 June 2012 (2011: $nil).

Statement of contingent liabilities and contingent assets

as at 30 June 2012

Quantifiable contingent liabilities
Actual
2010/11
$000
 Actual
2011/12
$000 
161  Contractual dispute and related claims
161  Total quantifiable contingent liabilities

Contractual dispute and related claims

The Ministry is involved in a dispute regarding performance of a contract. There are also two claims for damages from affected third parties. The Ministry assesses the likelihood of these contingencies eventuating as low and so is disclosing the contingent liability as zero.

Contingent assets

The Ministry has no contingent assets (2011: $nil).

Statement of departmental expenses and capital expenditure against appropriations

For the year ended 30 June 2012
Actual
Expenditure
2010/11
$000
 Actual
Expenditure
2011/12
$000 
Supplementary
Estimates
2011/12
$000 
Section 26A
Transfer
2011/12
$000 
Voted
Appropriation
2011/12
$000 
  Vote Transport         
  Appropriations for output expenses         
30,084  Policy advice  28,542  29,088   - 29,088 
17,344  Road user charges collection, investigation and enforcement  16,329  18,829   - 18,829 
1,742  Governance and performance advice for Crown agencies  619  750   (50) 700 
1,488  Land transport revenue forecasting and strategy  1,593  1,550   50 1,600 
1,134  Search and rescue activity coordination PLA  1,113  1,136   - 1,136 
429  Fuel excise duty refund administration  429  429   - 429 
251  Milford Sound/Piopiotahi Aerodrome operation and administration  254  223   - 223 
52,472  Total appropriation for output expenses  48,879  52,005   - 52,005 
  Appropriation for capital expenditure         
674  Ministry of Transport - Capital expenditure PLA  209  303   - 303 

The Voted Appropriation column includes all adjustments made in the 2011/12 Supplementary Estimates and a transfer approved under Section 26A of the Public Finance Act 1989.

In respect of the appropriation Land Transport Revenue Forecasting and Strategy, a Section 26A approval was obtained for the transfer of $50,000 from the appropriation Governance and Performance Advice for Crown Agencies under Order in Council. This was done to allow activity to remain within budget due to the importance of the work being undertaken and pending deadlines.

Statement of departmental unappropriated expenditure against appropriations

 

for the year ended 30 June 2012
Unappropriated
Expenditure
2010/11
$000
 Actual
Expenditure
2011/12
$000 
Voted
Appropriation
2011/12
$000 
Unappropriated
Expenditure
2011/12
$000 
  Vote Transport       
  Appropriations for output expenses       
Policy advice  28,542  29,088 
Road user charges collection, investigation and enforcement   16,329 18,829 
Land transport revenue forecasting and strategy  1,593  1,600 
Governance and performance advice for Crown agencies  619  700 
Search and rescue activity coordination PLA  1,113  1,136 
Fuel excise duty refund administration  429  429 
Milford Sound/Piopiotahi Aerodrome operation and administration  254  223  31 
  48,879  52,005 31 

Expenses and capital expenditure incurred in excess of appropriation

In respect of the departmental output class Milford Sound/Piopiotahi Aerodrome operation and administration, the appropriation was exceeded by $31,000 due to additional costs incurred in relation to a contractual dispute. A certificate under Section 26C has been approved by the Minister of Transport for inclusion in the Report on Unappropriated Expenses and Capital Expenditure for tabling in the House of Representatives.

Expenses and capital expenditure incurred without appropriation or other authority, or outside scope of appropriation

Nil.

Breaches of projected departmental net asset schedules

Nil.

No unappropriated expenditure or breaches of net asset schedules occurred in 2010/11.

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